'Only the little people pay taxes': Create a Tax-FREE income river

'Only the little people pay taxes': Create a Tax-FREE income river

Protect all your investment earnings in a low-cost trust.

Turn your taxable pension or IRA into tax-FREE income.

Take $6,000 monthly FREE of income taxes.

Avoid tax on up to 85% of your Social Security benefits.

“Only the little people pay taxes.” Leona Helmsley said. Mitt Romney pays less than 15%. Warren Buffett pays only 17% total tax. 35,000 wealthy households paid $0 tax. 1,470 millionaires paid zero taxes in 2009. Are YOU paying too much? $12.95

http://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441

Avoid future higher tax with Roth IRA tax-FREE trust

High-income earners cannot contribute to a Roth IRA to gain tax-FREE income. However, you can convert a traditional IRA to a Roth regardless of income level. You pay the tax on the converted amount now in return for ZERO tax on much larger amount in the future. EG: Couple contributes $10,000 a year for 10 years. Converts $182,000 to Roth IRAs in year 10, pays income tax on gains ($82,000) and lets them grow tax-FREE. By year 20 you have $500,000 free of income tax. http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Middleclass retirement without company pensions

According to a recent study by the Employee Benefits Research Institute, fully 44 percent of Baby Boomers and Gen-Xers lack the savings and pension coverage needed to meet basic retirement-age expenses, even assuming no future cuts in Social Security or Medicare, employer-provided benefits, or home prices. Most Americans approaching retirement age don’t have a 401(k) or other retirement account. Among the minority who do, the median balance in 2009 was just $69,127. https://ebriorg.wordpress.com/2012/05/

Members who started late still able to create a Tax-FREE Retirement: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/

Are you paying too much for the same portfolio your advisor gives everyone?

Most money managers attract clients by word of mouth. That’s how Madoff did it. You trust your advisor because someone else trusted your advisor. You assume they did their homework so you didn’t have to do it. Well, you know how that story ends. Ask your advisor what they do for their 1.8% fee on assets. For the average investor, that could be $9,000. If they become popular seminar speakers, revenue can easily top $10 million. What do you get? One hour a year and boilerplate plans putting you in one of the seven core portfolios. Successful investors have their own plans and so stick with them:  http://www.amazon.com/REAL-999-Plan-Invest-Spend/dp/1469917580/

New 401k fee disclosure will shock you to move to lower fees or Roth 401k

By November, you should receive your new statement. Under Department of Labor regulations, employers have to provide fee information to the investors in the plans by Aug. 30. The disclosures will simply show what an employee could pay in fees on various investment options in their 401(k) plans. But the real "aha" moment for many plan participants is likely to occur sometime after Nov. 15 when they receive account statements detailing what they actually paid in fees the previous quarter - in dollars and cents. Recent research suggests that the existence of fees might alone be news to many employees. More than 70 percent of 401(k) plan participants did not know they paid any fees for investing in their plans, according to a recent AARP study.

Small plan participants pay THREE times what large plan members pay so if you are in a high cost plan, you can stop and use a low-cost Roth IRA. Over time, current fees can take 40% of your nest egg. Redirect your 401k money to a tax-FREE forever account: http://www.amazon.com/New-American-Retirement-System-Tax-FREE/dp/1461030072

State Farm says ex-Penn State football coach Jerry Sandusky’s homeowners' policy shouldn't have to cover civil suits stemming from his sex crimes, even if they were committed in his home.

Save on auto insurance by using your Wealth Reserve^TM to self-insure

Self-insure the small infrequent risks and invest HALF the premium you are now wasting on your car insurance policy. Plus, You don’t need medical coverage if you already have a comprehensive care policy. You will never receive a benefit from the medical part of your car policy—your health policy is primary. There are 21 other ways to save premium and build your own Reserves, not the insurers’: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

American General AIG leaves long-term care insurance

Last week Pru left the group market. GE Genworth and Transamerica (Ageon) will change pricing and commissions. Long-term care liability loss rates and claim severity are now at an eight-year high and could grow steadily into next year, according to an analysis by Aon Global Risk Consulting. There are alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Lies My Financial Advisors Told Me and low-cost alternatives I found

Did your advisor show you how to earn 10-12% return on your money without paying their fees every year?
Did your broker tell you that you can buy individual securities for $0 commissions now?
Did your agent call you about falling insurance premiums?
Did your banker explain your accounts will be ‘nickeled’ and ‘dimed’ to death?
Did your money manager explain that low costs are the best predictor of investment success?
Your financial “team” is robbing you of $3,000 every year.
“Professional money management is a gigantic rip-off.” Bill Gross, Bond Guru
Just published: https://www.createspace.com/3943417

SCAMS           “Only the little people pay taxes.” Leona Helmsley

It’s about time!

The Obama administration is launching an ambitious new drive against health care fraud by mining claims data from insurance companies and government programs in hopes of ferreting out bogus billing. Miami task force report: http://oig.hhs.gov/testimony/docs/2011/perez_testimony_03022011.pdf

Many banks trying to mislead on interest rate standard

A number of studies have shown that when it comes to lying about the key bank rate, Barclays was far from the worst offender. That title may belong to Citi.

In early 2010, two economics professors from UCLA and the University of Minnesota looked at Libor manipulation and found that, at least according to one measure, Citi had misstated its lending rate by more than any other large U.S. bank in the run up to the financial crisis. Worldwide, the bank that had the largest spread between what its Libor rate should have been and what was reported, according to the analysis, was the Royal Bank of Canada. By the WSJ's calculations, from January 23 to April 16 of 2008 Citi under-reported its borrowing rate by 0.87 percentage points, or nearly triple the 0.30 percentage point difference that the paper figured Barclays was fibbing by.

Pay for performance is the American standard

Why should we pay Congress people salary when we have no production?

Wealthy Congresspeople don’t want to show returns either—Mit keeps $ overseas

Most in Congress – Democrat and Republican alike – apparently are unwilling to make any of their returns public. Over the past three months McClatchy Newspapers asked all 535 members of Congress to publicly release their tax returns, but only 17 complied. An additional 19 refused and the rest failed to respond. Read McClatchy article.

Among those refusing to provide tax returns were Nancy Pelosi, the top Democrat in the House, and Harry Reid, the leading Democrat in the Senate. They each rejected repeated requests.

Insurers place their bets on GOP

Insurance industry political donations given to presumptive Republican presidential nominee Mitt Romney more than double those given to President Barack Obama this election cycle, according to a Best's News Service analysis.

Who owns your account now?

MetLife banking assets to GE

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

$1,000 tax refund becomes $50,000 for retirement

Use your tax refund to give yourself $150,000 in retirement
Lee filed her taxes on $20,000 income and used the $1,000 IRA deduction to receive a $572 refund from the feds and $528 from the state. He put the $1,000 in his Vanguard account which has averaged 11% since inception. Lee expects this $1000 to grow to $50,000 in 35 years.

The average refund is $3,000. It can provide $150,000 in retirement from just that $3,000. Members who have done that every year since working may end up with $2 million at age 65. Fred and Susan tell you how: amazon.com/Fred-Susans-000-Wealth-ReserveTM/


Is ID theft monitoring right for you?
Credit bureaus claim they’ll protect you for $60 to $180 a year. However, there's no protection against theft of your Social Security number, according to Consumer Reports. The bureaus don’t receive the ID theft data with your SS immediately. Bureaus keep new data in "temporary fragmented files" when creditors file account information does not match your info even with your SS. They have no way to know your file’s 2nd address is not your new one or a thief’s using your SSN fraudulently. When creditors begin relabeling the ID thief's fraudulent accounts in your name and address, none of the credit-monitoring products you can buy would catch it. You are stuck spending your money and time trying to correct your files at the bureaus and the creditors. Good luck trying to get them to fix their mistake too. It took me two years—even though I had their protect service. http://www.consumerreports.org/cro/money/credit-loan/costly-credit-monitoring-services-offer-limited-fraud-protection-4-07/overview/0704_costly-credit-monitoring-services-offer-limited-fraud-protection_ov.htm

Beware of tax blunders
IRS says these schemes peak during filing season as people prepare their tax returns.
1.Theft of your Social to claim your refund. www.IRS.gov/identitytheft.
2.IRS does not send emails: it is a thief. Report to phishing@irs.gov.
3.Preparer steals refund or fee gauge. See Tips for Choosing a Tax Preparer.
4.IRS is pursuing hidden money: Offshore Voluntary Disclosure Program (OVDP).
5.Promoters promise free money from IRS or Social Security.
6.False/inflated expenses, undeclared income.
7.False Form 1099.
8.False tax obligation arguments
9.False corrected W-2 claiming fewer wages.
10.Inflated charity deductions.
11.Obscure corporate identities.
12.Hide assets in trust.
If you are doing your own taxes and need a question answered fast, try http://www.allexperts.com/ep/932-9736/Tax-Law-Questions/John-Stancil-CPA.htm
It worked for me.
If you need more help—like failure to file—these organizations are paid to represent you for free or small fee: http://www.irs.gov/pub/newsroom/organizations_receiving_litc_grants_for_the_2012_cycle.pdf

At what age should you buy life insurance?
The reason to buy life insurance is to protect those who rely on you. When you have a family that is counting on your paycheck to live and reach the goals you have for them, you want to fulfill those promises. If your family has two wage earners, you need to consider what happens when one of you is not around. Obviously, the time to buy is determined by your family’s specific needs. Some people don’t need it. Members use our Guide to determine what type, where, and how much to buy. Most people can protect their family with low-cost term--$1 a day. amazon.com/Insiders-Guides-Discount-Financial-Services/dp

Is Guaranteed Whole Life $10,000 policy right for you?
Yes, you can buy $10,000 life coverage even if you have cancer, a heart condition, or other chronic disease. At $89 a month for a 70 year old male and $69 for a female, is this a bargain? Sure, if you are certain you have a limited time; this might be right for you. However, if you are not “scheduled” to leave soon, you have more options. $89 a month is a lot of money to pay out for the rest of your life. By age 85, your expected lifespan, you will have paid $16,000. Invested in a balanced mutual fund earning 10%, you might have $37,000 or more. Left to your heirs, this mutual fund would be tax-FREE just like life insurance due to the stepped-up tax provision. Check our Guide for options: amazon.com/Create-Your-Tax-FREE-Financial-System/dp


Long-term care insurance: Is it right for you? Are there better alternatives?
Long-term care insurance is expensive
Insurers keep raising rates
Almost a third of owners have to stop paying!
Most of us will never need it
There are better alternatives
Do NOT buy a LTCi policy before you compare alternatives
Unbiased information about your options and alternatives to spending $150,000 on this coverage you may not need. amazon.com/Long-term-Care-Insurance-better-alternatives/

When should you drop comprehensive and collision coverage?
Insurance companies only pay for the depreciated value (dealer’s auction price) on your vehicle when totaled. You might be paying for coverage that you will never get to use. Collision insurance pays for any repairs from an accident up to the fair market value of your car less your deductible. Use www.KBB.com to get the fair market and true market value of any car.
Comprehensive covers other repairs like vandalism. Bottom line: you are not going to get enough from the coverages to buy a replacement of the same used car. If you paid $10,000 for a used car 3 years ago, you have to deduct the wear and tear and usage. On average, you may receive less than $5,000 if the car is totaled. Meanwhile, you have been paying $200+ a year premiums with a $1,000 deductible. You will be reimbursed for repairs to your car up to about $3,000 in the next 2 years. After a car is 10 years old, insurers will pay you little. This is why you see many dented cars on the roads—it just is not worth fixing.

Insurer uses your driving record to quote homeowners coverage
Allstate has started considering the driving records and automobile insurance claims histories of people in Oklahoma and Kansas who apply for a new homeowner’s product that it plans to roll out to other states through 2014. "There is a strong correlation between auto-loss history and the likelihood of covered homeowners losses," an official said. State Farm doesn't use driving records or auto claims records to determine homeowner's pricing or eligibility, a State Farm spokeswoman said. Social media also presents opportunities for insurers. Members shop every two years to make sure they have the best deal for both separately: amazon.com/Insiders-Guides-Discount-Financial-Services/dp

Obama budget cuts subsides to big agricultural corps
Obama to cut $32 billions in supports including support for the federal crop insurance program. At the same time, ag research and food safety are being increased.

We taxpayers were buying agra business insurance for them!???? Can you believe it?
http://southeastfarmpress.com/soybeans/asa-now-not-time-reduce-crop-insurance-support

Is your ride dependable? Or just expensive?
J.D. Power and Associates polled 31,000 owners of 2009 model-year vehicles and rated brands by the number of problems owners have experienced in the last 12 months. Problems can range from stalling engines and transmission issues to peeling paint and electronics glitches. Lexus owners reported 86 problems per 100 vehicles. Porsche, Cadillac, Toyota and Scion rounded out the top five. The worst performers were Chrysler, Dodge, Jeep, Ram and Jaguar. Chrysler owners reported 192 problems per 100 vehicles. http://blogs.cars.com/kickingtires/2012/02/jd-power-releases-2012-dependability-study.html

Is your credit report OK?
Check your credit report for mistakes before you need to. All 3 reports are FREE at www.annualcreditreport.com.
DO NOT use the one shown on TV with the band singing “Free credit report. Com”. It is NOT free. FreeCreditReport.com charges to “monitor” your credit but is actually owned by one of them: Experian. So if you pay for this service, you will only get one of the 3 reports:
http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml. This credit bureau also owns PriceGrabber.com® and LowerMyBills.com®. They collect your data from these sites so be careful if you use them.

SCAMS

We taxpayers are giving Facebook a $ HALF A BILLION refund! For what?
Facebook made $1 Billion in 2011 but will pay no federal or state income taxes this April, and is expected to get money back from the government on its 2009 and 2010 taxes to the tune of $500 million dollars. That comes out of your taxes.

Richest pay only 16% tax
The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992. Lower than most Americans. And there are two wars and two tax cuts.
To make the top 400, a taxpayer had to have income of more than $138.8 million
http://blogs.wsj.com/economics/2010/02/17/a-look-at-the-tax-returns-of-the-top-400-taxpayers/

Facebook is not alone
There accounting strategies firms can use to reduce their tax obligations, from moving assets overseas to structuring their business in a way that passes the tax burden directly on to investors. By using these and other techniques, 30 major U.S. firms — including General Electric, Wells Fargo, Boeing and Verizon — managed to avoid paying a dime in income tax in 2008, 2009 and 2010, according to a report last fall from CTJ.

Romney’s overseas bank?
The Justice Department is calling Switzerland's largest private bank a fugitive from justice after it didn't show up for a court hearing in New York. Wegelin & Co. is charged with conspiring with American clients to hide $1.2 billion from the Internal Revenue Service. The bank was indicted on Feb. 2. Since then, U.S. officials haven't found a way to move the case forward. http://www.schweizer-banken.info/en/bank/zh/zurich/wegelin.htm

How the 1% hides the money is documented in this article—no wonder America is out of money! It is standard procedure for most global firms and their employees/owners.
http://www.lifehealthpro.com/2012/02/14/how-tos-of-offshore-accounts-first-get-a-million?ref=hp

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
www.InsuranceAdvisorsNetwork.com